We in Econiq believe that 95% plus of engagements between a staff member in the branch and the customer represents an opportunity to enhance the relationship that already exists.  The opportunity may only be make the customer aware of new extended opening times for the branch but if that is likely to appeal to a particular customer, it will have enhanced the relationship.

More importantly, we believe that there are many opportunities to engage in meaningful dialogue with customers and to learn more about their lifestyle, current banking habits and financial requirements.  It is our experience that frontline staff lack the skills, experience, confidence and systems to support them in such engagement.  This represents a huge challenge for most retail financial institutions.

A key question is during what proportion of engagements, do staff identify an opportunity to “make an offer” of even the simplest kind to customers?  As a financial institution, do you know that answer to this question and what can you do about it?  

At Econiq, we have the solutions and methodology to help financial institutions to learn more about their customers’ requirements and to directly address these through appropriate, well qualifies recommendations or offers.  Furthermore, we can directly measure how successful this is, what the take up rates our and learn from this to improve the process on a continuous basis.

Talk to Econiq about helping you to increase cross sales and internal referrals.